ECN Brokers

We recommend Pepperstone as the best ECN broker overall. They offer a solid combination of tight RAW spreads, fast execution speeds, a range of markets, and a choice of trading platforms, which is why we scored them 93.5/100.

In our 2026 execution test, which ran Expert Advisors on MetaTrader 4 demo accounts at 36 brokers over two 30-hour periods, Pepperstone filled limit orders in 77 ms, ranking 2nd of 36, and market orders in 100 ms, ranking 10th of 36. The other 35 brokers in that test averaged 145 ms on limit orders, a gap I rate as meaningful, so the faster your limit orders fill, the less chance for slippage on your entries.

Pepperstone publishes a US$0 minimum to open a live account, and that opening minimum is separate from card funding. Loyal's Philippine record from October 30, 2026 shows a card minimum of US$10 per deposit, and she made two US$10 card deposits for a US$20.00 balance with a US$0 fee. I separate the opening requirement from the funded amount, because a zero minimum to open does not mean a zero minimum on a card deposit, and the card figure is what decides the amount you pay on the day. I would not generalise either number into a guaranteed global term.

The Best ECN Broker

Combined with ECN style execution, low spreads and commissions, Pepperstone is the solution I recommend for the MT4 platform. Choosing the Pepperstone Razor account provides an excellent foundation for you to get the most from the MT4 platform, and I would point you at it for your MT4 trading. With this account you get the following.

• Interbank spreads from 0.0 pips on the Razor account
• Fast order execution speed of 60ms
• ‘True’ ECN commissions USD 3.76 per side per 100,000hot units traded
• Range of 94 currency pairs
• A plethora of fee-free funding methods
• A diverse range of financial markets, including forex, indices and commodities

Note: True ECN is defined as trading with no dealing desk or human intervention.

Pepperstone is regulated in multiple jurisdictions, which makes it a broker that can be trusted by traders in the markets this site covers. Being regulated in this way means Pepperstone must meet strict regulatory guidelines such as training standards, avoid conflict of interest and the requirements for customers’ deposits to be segregated in a separate account. The broker uses the highly respected auditing firm, Ernst & Young, to ensure Pepperstone processes and records are compliant with the standards of the regulators it answers to.

Pepperstone is one of the top 10 global forex brokers and is a well-recognised broker where they have a strong presence.

Pepperstone Spread Analysis

Pepperstone is a no-dealing desk (NDD) broker which allows them to offer low trading fees, and that execution model is a big part of why I rank it highly. The Razor trading account offers spreads as low as 0.0 pips for the EUR/USD currency pair, and I rate that headline spread as sharp for a retail account. These ECN-like spreads are on par with other financial institutions’ intra-bank rates, which most retail forex brokers are unable to achieve, a gap I track closely in my comparisons.

The below table highlights the key features of the main trading accounts Pepperstone offers, and I compare both fee structures side by side. The Razor account has spreads starting from as low as 0.0 pips, averages around 0.3 pips, and has a commission for each lot you trade. The standard account, on the other hand, adds one pip to the spread in place of commissions, so I would run the numbers on your typical volume before picking between them.

The below spreads table compares the average and typical spreads brokers provide on their website and are reviewed on a monthly basis. The table below shows the average spreads against a number of other brokers for the ECN commission accounts. You will notice Pepperstone spreads stand up well across the board against other brokers, which matches what I see when I compare raw accounts.

Pepperstone Razor Account Spreads

Pepperstone's Razor Account is one of the best ECN-style accounts in my view, offering minimum spreads from 0.0 pips plus commission fees. I would point you to this account type if you are a more experienced trader looking at executing automated trading strategies with Expert Advisors, along with scalping and day trading. The average spreads below show Pepperstone's competitiveness compared to other brokers offering a similar account type, a comparison you can run for yourself. The broker provides access to some of the tightest average spreads currently available to retail traders.

Commission ECN Spread Comparison, compared on spreads.

Commission ECN Spread Comparison	EUR/USD	AUD/USD	EUR/GBP	EUR/JPY	USD/CAD
	0.10	0.10	0.20	1.20	0.30
	0.1	0.38	0.37	0.73	0.59
	0.10	0.10	0.20	0.40	0.20
	0.00	0.00	0.20	0.30	0.00
	0.16	0.29	0.54	0.68	0.70
	0.20	0.40	0.50	0.70	0.70
	0.00	0.90	0.40	1.10	1.20
	0.10	0.50	0.60	0.40	0.60
	0.28	0.87	0.63	0.81	1.03

Avg. spreads are taken from each broker's website and updated monthly. Last update on 1 Sep 2026

Pepperstone Spreads

Pepperstone Standard Account Spreads

If you prefer a simple fee structure and account type, Pepperstone's standard account type is commission-free while still offering tight spreads, and that simplicity is why I recommend it to beginners. The account is suited for beginner traders looking to get into the market and want a simple trading cost structure. With minimum spreads of 0.6, Pepperstone provides one of the best no-commission trading accounts in my comparison. As shown below, few brokers can compete with Pepperstone's commission-free pricing, so you have a strong baseline for comparison.

Pepperstone also offers Islamic accounts for traders that need to comply with Sharia Law.

Compared across 5 columns: EUR/USD, AUD/USD and EUR/GBP.

	EUR/USD	AUD/USD	EUR/GBP	EUR/JPY	USD/CAD
	1.10	1.10	1.20	2.20	1.30
	0.70	2.20	1.10	1.60	1.60
	1.90	2.00	2.40	2.30	2.50
	1.40	2.50	2.50	2.60	2.60
	1.40	1.60	1.40	2.10	1.90
	1.44	2.03	1.52	2.14	1.79
	0.70	0.70	1.20	2.30	1.60

Avg. spreads are taken from each broker's website and updated monthly. Last update on 1 Sep 2026

Lowest Spread Forex Brokers

Pepperstone Trading Costs

Pepperstone offers competitive trading costs across 180 financial markets. Pepperstone’s clients can expect an average transaction cost of approximately $5.36 (assuming the EUR/USD spread remains constant at 0.16 pips) for each standard lot you trade.

Compared to other ECN forex brokers, retail traders can expect total trading costs of $7.90 with Axi, $7.70 with IG, and respectively $8.0 with FXTM. When put side by side with other ECN brokers, forex trading with Pepperstone comes with an additional saving cost of almost 40%.

The cost related to trading forex and CFD trading can be further reduced by up to 15% through Pepperstone Active Trader Program, a saving I factor into my comparison for high-volume readers. Typically, this translates into saving costs between $200 and $500 in monthly rebates. However, the Active Trader program is catered for high-volume traders and scalping trading strategies, so check whether your monthly volume clears the bar before you count on the rebate.

Fastest Trade Execution Speed

Pepperstone sits at the top of our list, and the ECN-like execution speed of 60 milliseconds that Pepperstone publishes rests on two key features:

1) A direct optical fibre connection to trading servers

The sheer distance between US liquidity hubs can be a disadvantage for traders outside the United States. Pepperstone offset this through a direct optic fibre connection from London to New York. The end result is a reduction in up to 10x times latency for these traders.

Pepperstone Equinix Servers

Just having a fast connection isn't enough if the server has a poor response rate, a distinction I pay attention to when I compare execution infrastructure. To overcome this, Pepperstone partners with Equinix who have servers near Wall Street in New York, which is one of the world's largest and most important financial centres. Using the Equinix data centre means the broker is as close as possible to most of the currency exchange firms and banks means Pepperstone can achieve the best possible latency for your orders, which is what you want if execution speed drives your strategy.

Our Verdict On Pepperstone

Overall, we found Pepperstone Limited offered the best ECN trading conditions. The broker also topped our ECN rankings thanks to limit orders that ranked 2nd of 36 in our 2026 execution test (77 ms), lowest standard account spreads, and award-winning customer service. These are the elements critical for ECN trading.

Pepperstone ReviewVisit Pepperstone

We recommend IC Markets for its low average RAW spreads. In Ross Collins's spread tests of RAW accounts, it averaged 0.32 pips across the major pairs, against 0.49 pips for the 15 brokers in those tests.

What we think is excellent about IC Markets is that it offers a range of copy trading tools like ZuluTrade, allowing you to mirror the strategies of experienced traders at low cost. Your copy trading costs will be lower as you’ll benefit from IC Markets’ spreads.

The Broker That Has Low ECN Spreads

Second, on our list of best MT4 ECN platforms is one of the top no dealing desk brokers IC Markets due to their low spreads and costs.

IC Markets sits second on our list, which is ordered by our overall rating, and its key features are:

• Raw spreads starting from 0.0 pips
• 25 tier-1 liquidity providers
• Fast order execution speed of 40ms
• Handles on average $15 billion in forex transactions
• Collocated servers in the New York Equinix NY4 data centre (ensures low latency and slippage)

IC Markets has a major focus on Forex trading however traders can also choose from CFDs on Futures, Stock Indices, Shares, Bonds and Commodities. The company offers access to a true ECN trading environment via three powerful trading platforms, MetaTrader 4, MetaTrader 5, cTrader and TradingView, so you are covered whichever terminal you prefer, and that platform range is one reason I keep it near the top of my list.

International Capital Markets complies with stringent regulatory standards set by the regulators of the jurisdictions where it operates, which makes it a safe and trustworthy broker. IC Markets (EU) Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC) under the CIF Licence No 362/18.

IC Markets ECN Trading Spreads

As a true ECN broker, IC Markets matches the trades of its clients electronically and pass on trade orders to liquidity providers. This system means it operates a no dealing desk NDD execution model.

Since the broker uses a diverse liquidity mix, it is able to provide Forex traders with the lowest possible spreads, as low as 0.0 pips on some major currency pairs through its MetaTrader 4 ECN account (Raw Spread Account). IC Markets offers one of the lowest spreads on foreign exchange pairs such as EUR/USD in the world (0.1 pips) and is also able to offer tight spreads across its entire product list, so your costs stay low whatever you trade. IC Markets sits second behind Pepperstone in my ECN comparison, and I would keep the funding experience separate from the execution model when you weigh the two.

The table below demonstrates the minimum and the average spread on five major currency pairs through its Raw Spread and Standard trading accounts.

IC Markets Total Trading Costs

IC Markets will charge a small commission of $7.0 per round turn for 1 Standard Lot traded on its Raw Spread account, while Forex trading on its Standard account is associated with no commissions, just an all-inclusive spread.

The Raw Spread account supports 10 base currencies, including EUR, USD, AUD, GBP, SGD, NZD, JPY, CHF, HKD and CAD. Depending on the base account currency selected and trade volume (Micro or Standard Lots), IC Markets will charge AUD 3.50 per side (AUD 9.0 round-turn) on its MetaTrader 4 Raw Spread account, a figure I would check against your own account currency before you fund.

At IC Markets, the average transaction cost for 100,000 units traded is USD 4.6 (assuming the EUR/USD spread remains constant at 0.1 pips).

IC Markets Order Execution Speed

As far as order execution speed is concerned, the broker’s MetaTrader 4 server is located in the Equinix NY4 data centre, which delivers an average order execution speed of 36.5 ms for retail clients.

A 2026 execution test used Expert Advisors on MetaTrader 4 demo accounts at 36 brokers over two 30-hour periods. IC Markets filled limit orders in 134 ms (16th of 36) and market orders in 153 ms (22nd of 36).

Due to deep liquidity and no dealing desk execution with no requotes, IC Markets’ MT4 ECN account (Raw Spread) offers one of the best trading conditions for retail traders who employ scalping strategies. The Raw Spread account may also suit the needs of day traders as well as of those who use Expert Advisors, and that breadth is why I recommend it across so many trading styles, a range my ranking reflects.

Our Verdict On IC Markets

Loyal opened an IC Markets account in the Philippines on October 20, 2026 with Raw Trading Ltd, completing passport and liveness verification, and funded it with a US$20 card payment on October 30 that reached the MT5 balance. What you can learn from that is narrow but useful, because Loyal's sign-up, verification and card funding all went through. The US$20 was the amount Loyal paid, not an established card minimum, and I would not read the published US$200 reference as disproven by it. In my view the check tells you nothing about spreads, execution or withdrawals, and it does not establish true ECN conditions for your account.

FP Markets is our top choice for zero-spread ECN brokers. In our zero-spread testing, its spread sat at its minimum for 97.83% of the recorded time.

When spreads aren’t at zero, they still impress with an average of only 0.1 pips on EUR/USD, significantly lower than the usual 0.22 pips. With their RAW account, you can get these spreads on all platforms available, including MetaTrader 4, MT5, cTrader and TradingView.

The Top Zero Spread ECN Broker

Third, on our list of best MT4 ECN platforms by spreads, costs and speed is leading CFDs provider FP Markets. FP Markets was selected as the top zero spread ECN broker based on these key factors:

• CFD trading on +10,000
• Fast order execution speed of 37ms delivered from NY4 data centre
• EUR/USD spread of 0.0 pips during peak market hours
• Proprietary trading platform IRES DMA trading platform
• DMA Forex Brokers (DMA) with live market data through their IRESS platform

With 15 years of business history, FP Markets is one of the most reputable ECN brokers worldwide. FP Markets is regulated across multiple jurisdictions and is the parent company of:

• First Prudential Markets Pty Ltd, an entity authorised and regulated in Australia by the ASIC
• FP Markets, registered in Saint Lucia

FP Markets Raw Pricing

With FP Markets, retail clients can access institutional-grade liquidity with no dealing desk and no requotes.

Due to its vast pool of liquidity providers, the brokerage is able to offer the lowest possible Forex spreads, starting from 0.0 pips, on its MetaTrader 4 software, accessed through its Raw trading account type, which is where I would send you if raw pricing is your priority. The company offers more than 60 major, minor and exotic Forex pairs, and the minimum spreads on some of the most popular pairs are listed below so you can compare them directly.

• 0.0 pips on EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD and NZD/USD. The average spread offered on EUR/USD is 0.09 pips, one of the lowest worldwide.
• 0.1 pip on USD/CAD
• 0.2 pips on EUR/GBP, EUR/JPY and GBP/JPY
• 0.3 pips on EUR/AUD

During peak market hours the EUR/USD spread remains at 0.0 pips 55.87% of the time, according to price data compiled from Nov 2020 (only available through the Raw Spread account).

FP Markets Trading Costs

Spot Metals and Forex trading on FP Markets’ MT4 ECN account (Raw) is associated with a small commission, $6.0 per round turn for every 1 Standard Lot traded, while the minimum deposit required is AUD 100 or currency equivalent.

The maximum leverage allowed for Forex and Spot Metals is set by the regulator of the entity you open an account with, and differs between the broker’s offshore subsidiary and its regulated subsidiaries. Meanwhile, trading CFDs on Commodities and Stock Indices on the Raw account does not incur any trading fees for clients.

At FP Markets, the average transaction cost for 100,000 units traded is USD 3.9 (assuming the EUR/USD spread remains constant at 0.09 pips).

FP Markets Order Execution Speed

FP Markets operates a pricing model based on Electronic Communication Network (ECN) technology, which ensures deep liquidity, the highest level of price transparency, ultra-tight spreads as well as exceptional order execution with minimal slippage.

Since FP Markets’ MT4 server is located at the Equinix NY4 data centre, the broker is able to ensure ultra-low latency and ultra-fast order execution (37 ms) for its clients, an infrastructure detail I weigh heavily in my rankings. FP Markets was awarded four consecutive times as the Best for Quality of Trade Execution 2019 by Investment Trends.

Another notable advantage of the broker’s MT4 platform is that there are no restrictions on limit orders, which suits perfectly trading styles such as scalping as well as trading strategies based on the use of Expert Advisors (EAs).

Along with the desktop version, FP Markets’ MT4 is also available as a web-based application (Web Trader) and as a mobile app for iOS- and Android-based devices.

Our Verdict On FP Markets

Overall, FP Markets is the most trusted forex brokers with zero spread trading accounts. Similar to other regulated CFD and Forex brokers, FP Markets warns that CFD trading through retail investor accounts carries a high risk of losing capital rapidly, as leverage is used. Consequently, before starting to operate with such complex instruments, retail traders need to be fully aware of how CFDs work!

We rank ECN Brokers against every other broker we score on Best Forex Brokers (2026).

We recommend IG as the most trusted Forex broker because it has earned a solid reputation over 30+ years and is backed by strict regulation in multiple jurisdictions, such as the Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), the Canadian Investment Regulatory Organization (CIRO), the Monetary Authority of Singapore (MAS), Securities Commission Malaysia and the Financial Markets Authority (FMA).

We like brokers with multiple regulators, as this shows they take your protections seriously and are willing to work with multiple jurisdictions to obtain authorisation.

With access to over 13,000+ markets, IG offers one of the widest ranges of products, allowing you to trade virtually any asset on the major exchanges.

The Most Trusted Forex Broker

Fifth, on our list of best MT4 ECN platforms by spreads, costs and speed is the world’s biggest CFD provider IG. IG was selected as one of the most credible forex brokers in the industry based on these key factors:

• 45 years of experience in supplying the needs of all types of traders
• Clients’ money is held in segregated accounts at their-1 banks
• Forex trading with spreads starting from 0.6 pips
• IG trade cost is built into the spread and there are no forex brokerage fees
• Award-winning technology that can deliver fast order execution speeds of 0.014 seconds

Founded in 1974 and having more than 239,000 clients worldwide, IG Group Holdings Plc is one of the most reputable Forex brokers with solid regulation and business operations in 16 countries across 5 continents. IG is authorised and regulated in the following jurisdictions.

• The United Kingdom, where it operates as IG Markets Ltd, an entity regulated by the Financial Conduct Authority (FCA)
• Australia, where it operates as IG Markets Limited, an entity regulated by the Australian’s ASIC
• Singapore, where it operates as IG Asia Pte. Ltd, an entity regulated by the Monetary Authority of Singapore (MAS)

IG Spread Analysis

One way to trade Forex with IG is over-the-counter, via Contracts for Difference, with no commissions. Clients will only pay the spread. IG offers variable spreads on its Forex CFDs, which depend on liquidity and time of the day.

For CFD trading with OTC Forex Brokers like IG, we should note that the company will act as a market maker. In other words, every time clients execute a trade, they will be dealing directly with the brokerage.

Retail clients are able to choose from more than 97 major, minor and exotic currency pairs, with spreads on:

• EUR/USD and AUD/USD starting from 0.6 pips
• USD/JPY starting from 0.7 pips
• GBP/USD starting from 0.9 pips

The minimum and average spreads, as well as the margin requirements for the most actively traded Forex pairs on IG’s MT4 platform, are presented in the table below.

We should note that the average spreads have been calculated over the 12 weeks ending May 29th 2020.

IG Trading Costs

When holding Forex and Spot Metals trades overnight, clients will incur overnight funding costs. In this case, the cost will equal the tom-next rate plus a small charge.

When trading CFDs on Shares and Stock Indices, the overnight funding fee includes IG’s admin fee plus or minus the relevant interbank rate (depending on whether it is a long or a short position) for the currency in which the trading instrument is denominated.

For trades in Commodity CFDs and Futures CFDs, clients will not incur overnight funding charges.

Additionally, retail traders can reduce the cost of forex trading through cash rebates. Traders can save up to $10 for each notional million traded contingent on trading volume thresholds.

At IG, the average transaction cost for 100,000 units traded is USD 6.0 (assuming the EUR/USD spread remains constant at 0.6 pips).

IG Order Execution Speed

As for order execution speed, IG’s pricing technology allows the broker to execute more than 98% of its clients’ market orders within 0.014 seconds on the MT4 platform. IG’s execution engine can boost the following performance areas.

• Processed 86 million trades in the fiscal year 2019
• Average 7 million orders are executed each month through IG trading platforms
• Handle 130,000 unique traders
• 89% of stop-loss orders have zero slippage and 11% negative slippage

Overall, the IG order management system has saved clients over GBP 55 million since Nov 2013.

Our Verdict On IG

Loyal opened an IG account in the Philippines in October 2026, and I want to be clear about what that check covered. The application went in on October 21, 2026 under the agreement naming IG International Limited in Bermuda, and the account was activated on October 28. A US$50 card deposit on October 30 reached the MT5 balance, which confirms that Loyal's sign-up and funding path worked end to end for her account. The MT5 server label read IG Markets Limited, though a server label alone does not prove which entity holds your contract. In my view you should treat this as an account-opening and funding check only, because no execution, spread or ECN order-routing test sat behind it.

Axi is our best MT4 ECN platform because it provides an excellent trading environment that MetaTrader 4 can take advantage of. The Pro account, Axi's raw-spread option, trades from 0 pips, and its commission on a USD-denominated account works out at $4.50 for each standard lot, payable in full when a position opens.

We like that they offer a range of extra trading tools, like Autochartist and Trading Central. These are two excellent market scanner tools that send alerts when chart patterns form so you can review them and decide whether to trade them.

This helps speed up finding new trading ideas and is automated in the background, which is helpful if you are a beginner trader.

The Broker That Has A Great MT4 ECN Platform

Axi sits fifth of the six brokers on our list. We selected it for its MT4 ECN platform based on these key factors:

• Premium ECN trading technology via MT4 ECN bridge
• EUR/USD average spread of 0.2 pips (Pro account only)
• Advanced trading tools and indicators to show fundamental, sentimental, and technical analysis
• Fast execution, with limit orders filled in 90 ms (8th of 36 brokers) in our 2026 execution test
• A commission rate of $3.5 per side for 100,000 units traded

Axi is a multi-regulated ECN brokerage, licensed in several jurisdictions, where it falls under the regulation of the authorities in the markets where it operates.

Axi Spread Analysis

Axi supplies its Forex quotes directly from a network of +20 top-tier liquidity providers (LP). The extensive network of LPs allows Axi to offer reliable low spreads across its CFD product list.

Axi price engine aggregates in real-time price quotes from its LPs and identifies the best bid and the best offer prices available. Since the broker’s pricing can reflect even the tiniest price changes in real-time, this brings its clients very close to institutional-grade pricing.

The broker’s MT4 platform allows access to over 140 financial instruments, which can be traded with ultra-tight spreads on Axi’s Pro Account. In times of high liquidity, spreads on the most popular Forex pairs can reach 0.0 pips. The average spreads offered on Forex majors are:

• 0.2 pips on EUR/USD
• 0.3 pips USD/CAD and USD/JPY
• 0.4 pips on AUD/USD and USD/CHF
• 0.6 pips on GBP/USD

Axi Trading Costs

In exchange for ECN trading conditions, Axi will charge a small commission of 7.0 per round turn for 100,000 units traded on its Pro account type. On the other hand, there are no commissions on the Standard Account, but spreads will be wider. Axi’s commission rate of $3.5 per side per 100,000 units traded is in line with industry standards.

When we take into account the total transaction cost (spread + commission), Axi’s charges are on par with other respected brokers, maybe slightly higher.

At Axi, the average transaction cost for 100,000 units traded is USD 5.5 (assuming the EUR/USD spread remains constant at 0.2 pips).

Axi Order Execution Speed

Axi’s MT4 software solution uses an ECN bridge to ensure considerable latency reduction. This translates into less negative slippage and subsequently lower trading costs compared to market maker brokers. The cutting edge technology offered by Axi allows it to deliver fast order execution.

Axi filled limit orders faster than most brokers and market orders slower than most in our 2026 execution test on MetaTrader 4 demo accounts, so the speed you get depends on the order type you use.

• Limit orders: Axi filled these in 90 ms, the 8th fastest of 36 brokers.
• Market orders: Axi filled these in 164 ms, the 25th fastest of 36 brokers.

Our Verdict On Axi

With all this taken into account, we consider Axi’s MT4 software as one of the best ECN platforms on the market. You can trade with an award-winning MT4 forex broker that handles over $100 billion in average monthly trading volume from over 40,000 traders. Claim your free Axi demo account with $50,000 in paper money by clicking the button below.

FxPro is our top choice for a good STP Forex broker that provides a decent range of markets and tight spreads, and that verdict is one I reach on cost grounds. We like that the broker provides Direct Market Access, allowing you to see the order books from the liquidity provider, with platforms like cTrader can take advantage of this.

In particular, we think FxPro offers the best service for the cTrader platform, averaging 0.32 pips and low commissions of $3.00 per lot. We found that this commission is almost 50 cents cheaper than its competitors, who charge an average of $3.48 per lot.

A Good STP Forex Broker

Sixth, on our list of best MT4 ECN platforms by spreads, costs and speed is the no dealing desk NDD broker FxPro. FxPro was selected as the best straight-through processing STP forex broker based on these key factors:

• Online trading on 6 financial markets
• Ultra-high execution speeds of 11.06ms
• Trading on the forex market with zero commissions (only through MT4 and MT5)
• Variable spreads and fixed spread account

Founded in 2006, FxPro is an STP broker, offering CFDs on Forex pairs, Equities, Spot Indices, Commodity Futures, Spot Metals and Spot Energies on three popular trading platforms (MetaTrader 4, MetaTrader 5).

FxPro is authorised and regulated in multiple jurisdictions across the globe, including the following.

• United Kingdom, FxPro UK Limited, regulated by the FCA
• European Union, FxPro Financial Services Limited, regulated by the CySEC
• Internationally, FxPro Global Markets Limited, regulated by the Securities Commission of The Bahamas

FxPro Spread Analysis

Along with NDD execution, retail traders can take advantage of fixed Forex spreads on FxPro’s MT4 account, a combination I highlight in my notes on predictable costs. The STP broker will have the spread on 7 popular currency pairs fixed, depending on specific time intervals during the trading session. Fixed spreads are offered on EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD, and USD/JPY.

However, during illiquid times and news events, all market participants can expect the EUR/USD spread to reach 2.7 pips.

FxPro Trading Costs

At FxPro, the total trading cost incurred on all forex transactions depends on three factors:

1. The execution model used (instant or market execution)
2. Trading platform (MT4, MT5 or cTrader)
3. Spread type (fixed or variable)

Investors can incur a total trading cost of $15 per side on the traditional broker-spread model. By comparison, on the less-expensive interbank spread plus commission model, investors can incur a total trading cost of $5.5 per side.

The brokerage will charge no commissions for CFD trading on its MT4 and MT5 account types.

At FxPro, the average transaction cost for 100,000 units traded is USD 15.0 (assuming the EUR/USD spread remains constant at 1.5 pips).

FxPro Order Execution Speed

FxPro provides execution of client trade orders with no dealing desk intervention, which, in turn, ensures access to diverse liquidity and ultra-high execution speeds (most trade orders are filled in less than 11.06 ms).

According to the broker’s statistics, in 2019, 99.32% of all instant orders were executed with no requotes, while 9% of orders experienced positive slippage.

At FxPro, all client orders are processed through Equinix Data centres, LD5 in London and AM4 in Amsterdam, where FxPro has co-located servers. FxPro uses its own proprietary aggregator Quotix to aggregate bids and offers from top-tier banks.

Our Verdict On FxPro

Overall, FxPro is a trusted Straight Through Processing broker, but when we factor in the variable spreads they are relatively high when compared to other legitimate STP brokers. For scalpers, the total trading costs will be extremely hard to overcome, and that is why I rank FxPro lower for that strategy, so bear that in mind if scalping is your plan. For more inquiries, you can contact FxPro's 5-star customer support by clicking the button below.